The range has an annual management charge of 0.25 per cent, owing to its use of in-house funds, and L&G claims it is designed to “support the way UK financial advisers are working with their clients today”.

Each of the funds corresponds to a specific risk rating. Data from Distribution Technology will be used to set the asset allocation for each risk profile, while L&G’s strategic investment and risk management team will manage the funds’ asset allocation mix

Legal & General Investments managing director Simon Pistell says: “Many UK advisers are looking for low-cost investment solutions that are easy to match to their clients’ risk profile. They want to reduce their focus on monitoring the fund universe and rebalancing portfolios and add value to other parts of the advice and investment process instead.

“Risk-targeted multi-asset funds are ideal for this environment. We’ve designed our range to be easy to monitor, low in cost and to fit the way advisers are working with their clients today.”